B.P. Marsh & Partners, a private equity investor in early-stage financial services, has completed a significant move by acquiring a 30% stake in AI Marine Risk Limited (AI Marine), a London-based Managing General Agency (MGA). This strategic investment is accompanied by a funding commitment of up to £1.6 million, combining equity and a loan facility.
About AI Marine
Founded by marine insurance specialists Tom Fulford-Smith and Charles D’Alton, AI Marine specializes in Marine Hull insurance with a global focus on the UK & Europe, Middle East, and Asia-Pacific regions. The partnership with B.P. Marsh positions AI Marine to become a market-leading, client-centric marine MGA.
Strategic Partnership Details
As part of the deal, Abi Benson, an Investment Director at B.P. Marsh, will join AI Marine as the nominee Non-Executive Director on its Board, reflecting B.P. Marsh’s active involvement in AI Marine’s strategic direction. AI Marine has secured A-rated capacity from multiple carriers, emphasizing its commitment to long-term profitability.
Global Expansion and Expert Team
Headquartered in London with a distribution centre in Scandinavia, AI Marine aims to provide risk solutions globally. Co-founders Fulford-Smith and D’Alton, former leaders of Latitude Brokers Limited, bring extensive experience, and Jonny Moss, Chief Underwriting Officer, adds valuable expertise from Norwegian Hull Club.
Investment Enthusiasm
Dan Topping, Chief Investment Officer of B.P. Marsh, expressed excitement about the investment, anticipating substantial growth for AI Marine. Co-founders D’Alton and Fulford-Smith shared their confidence in achieving long-term goals with B.P. Marsh’s support, citing the company’s strong team and track record.
Conclusion
B.P. Marsh‘s investment in AI Marine marks a significant step in fostering global growth in marine insurance. The strategic partnership is set to create a client-focused marine MGA, benefiting from experienced leadership and industry expertise.
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FAQs
Q1: What is the funding commitment from B.P. Marsh to AI Marine?
B.P. Marsh has committed up to £1.6 million, consisting of a mix of equity and a loan facility, as part of the 30% stake acquisition in AI Marine.
Q2: Who will join AI Marine as the nominee Non-Executive Director on its Board?
Abi Benson, an Investment Director at B.P. Marsh, will join AI Marine as the nominee Non-Executive Director, showcasing B.P. Marsh’s active involvement in AI Marine’s strategic direction.
Q3: What regions does AI Marine focus on for its Marine Hull insurance services?
Ai Marine has a global focus, specifically targeting the UK & Europe, Middle East, and Asia-Pacific regions for its Marine Hull insurance offerings.
